There are houses… and then there are homes that just feel right the moment you see them.There’s something about this house that just feels good. Maybe it’s the 1903 charm. Maybe it’s the park right next door. Maybe it’s the cozy scale that reminds you homes don’t have to be huge to feel perfect. But once you see it… you get it.This one is that kind of home.Tucked beside one of Erwin’s most beloved parks, this charming 1903 cottage is the kind of place that makes you slow down a little when you pull into the driveway. The kind where mornings start with coffee on the porch, afternoons mean a short walk through the park next door, and evenings feel quiet in the best possible way. Inside, the home has been thoughtfully updated while still keeping the warmth and character that make older homes so special. Sunlight fills the living spaces, the layout flows comfortably, and the eat-in kitchen becomes the natural gathering spot — the place where conversations happen long after dinner is finished. With two bedrooms, one bath, and just over 1,000 square feet, this home proves something important: You don’t need massive square footage to live beautifully. You just need a place that feels like yours.The fenced yard offers privacy, space for pets, gardening, or summer evenings under the Carolina sky. And with no HOA, you get the freedom to actually enjoy your property. Whether you're buying your first home, downsizing to something simpler, or looking for a place with character that newer homes just can’t replicate — this one has a way of capturing hearts. Homes like this don’t sit around waiting. They get noticed. And once someone steps inside…they usually don’t want to leave.Welcome home.THIS HOME HAS AN ASSUMABLE FHA LOAN AVAILABLE UNDER 4.5%!!!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
